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ABC 20/20 Lotto lives airing.

Topic closed. 64 replies. Last post 11 months ago by hhh1200.

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Posted: February 13, 2016, 12:55 pm - IP Logged

Yes she made some big mistakes.  Maybe she should have worked in the movie industry first, or moved out of California and start a movie company and not go against paramount or some of the other big movie companies.  She is a really good person to learn from as far as what not to do if you win a lottery.

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    Posted: February 13, 2016, 2:39 pm - IP Logged

    The lump for Cal was about $51M.  I think someone posted a 3-way split.  Nope, she kept 25M and her brother and father split the other 25M (12.5 a piece).

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      Posted: February 13, 2016, 8:31 pm - IP Logged

      She didn't put all her money in QNP. I don't think that's possible since from what I found on imdb about a year ago, QNP has been listed as the producer in just a handful of movies and the contributions appeared to be minor. Plus she took out that mortgage within a couple months of collecting her money. She didn't have time to spend it all yet. 

      I'm not even sure her donation to Geffen was a bad idea. If she gave it over the course of say 10 years, she might have been offsetting some of her taxes by doing that. Seems to me her biggest problem was believing her own hype. She believed she willed herself into winning, and in 2014 said she was going to will herself into another win.

      If it happened once, she thought could make it happen again and therefore, splurging on things she couldn't afford was a non-issue since she'd have millions coming to her again. She viewed it as a recurring event instead of a once in a lifetime opportunity.

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        Posted: February 14, 2016, 6:20 am - IP Logged

        She setup a $25M fund for QNP with some minor investors. I don't think it all went in at once but seeped in over several years similar to the Gates' non-profit Also, money went into her boyfriend's fitness business and he headed QNP.  There are external costs for movie production which doesn't show up in the IMBD.  One of those movies had a cost of $2.5M just to get it to limited release in cinemas and it only made like $20k. I remember a quote where she said she doubled her money in stocks.  I knew something was fishy.  When you hear that, it means someone is chasing high risk investments and trying to catch up on their loses by doubling down, chasing losing stocks. Anyway hopefully, her dad and brother buy her a modest home for her and the kids. She can go back to selling software

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          Posted: February 14, 2016, 3:23 pm - IP Logged

          She setup a $25M fund for QNP with some minor investors. I don't think it all went in at once but seeped in over several years similar to the Gates' non-profit Also, money went into her boyfriend's fitness business and he headed QNP.  There are external costs for movie production which doesn't show up in the IMBD.  One of those movies had a cost of $2.5M just to get it to limited release in cinemas and it only made like $20k. I remember a quote where she said she doubled her money in stocks.  I knew something was fishy.  When you hear that, it means someone is chasing high risk investments and trying to catch up on their loses by doubling down, chasing losing stocks. Anyway hopefully, her dad and brother buy her a modest home for her and the kids. She can go back to selling software

          Great rewards only come from great risks. Which is great when it actually happens, but it rarely does. I don't think it's fishy that she said she doubled her money, since there are many people who have done that. It's fishy because she's broke. 

          What I really want to see is the breakdown of her expenses in the bankruptcy filing and who these investors are. I don't see anyone but her father and/or brother putting thousands or millions of dollars into a production company headed by someone who has never worked in movie production before, and during a time when everyone was still reeling from the recession. Doesn't make sense. 

          Cynthia seems to be a fairly warm and nice lady, but I think everything she says about herself and her company needs to be taken with more than a few grains of salt. I'm omitting that incident of her shopping for a $20 million private jet, simply because I don't think even she's that crazy, and more than likely was a publicity stunt. But she gave a talk to Upchurch right around the time she would have stopped paying on her mortgage and she acted as if she was still rolling in dough. Maybe she actually did get investors and put together a $25M fund for QNP, but it just doesn't seem likely.

          I might wake up early and go running.  I might also wake up and win the lottery.

          The odds are about the same.

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            Tulsa
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            Posted: February 14, 2016, 3:39 pm - IP Logged

            This lady also spent hundreds of thousands on handbags and absurdly high priced cars.  You get exactly what she did when you get that money at once without it being residual income.  She spent like she was going to be getting a Robert Downey Jr. salary.

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              Posted: February 15, 2016, 3:45 am - IP Logged

              Notice with the large sum of money these fortunate lottery winners had. Hardly any of them thought of continuing they're education, taking care of their health, plan for retirement/college savings or donate to a worthy chairty organization.

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                Tulsa
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                Posted: February 15, 2016, 12:16 pm - IP Logged

                Notice with the large sum of money these fortunate lottery winners had. Hardly any of them thought of continuing they're education, taking care of their health, plan for retirement/college savings or donate to a worthy chairty organization.

                Many of them were not doing that before so that is unlikely to change.  In fact, having a large sum of money plopped down in the hands of someone who had not previously had a decent amount of money usually causes people to trend further in the wrong direction.  It enables them to do more than what they were used to and their decisions are often for the worse.  However, there are some lottery winners that have won far less than she did and still live reasonable lives off what they have.  Maybe she should have thought about that before buying all of those expensive items and well as celebrity "friends".

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                  Posted: February 15, 2016, 1:34 pm - IP Logged

                  Many of them were not doing that before so that is unlikely to change.  In fact, having a large sum of money plopped down in the hands of someone who had not previously had a decent amount of money usually causes people to trend further in the wrong direction.  It enables them to do more than what they were used to and their decisions are often for the worse.  However, there are some lottery winners that have won far less than she did and still live reasonable lives off what they have.  Maybe she should have thought about that before buying all of those expensive items and well as celebrity "friends".

                  Hi!

                  I think the statement is "money magnifies what is already there..."

                  If you did not care to educate yourself on budgeting and finance and follow through with the plan BEFORE a windfall...you probably won't after a windfall

                  If you were generous to a fault and had no healthy boundaries BEFORE a windfall...you will be the same afterwards with magnified consequences...

                  If you don't understand that money has "movement", it is constantly "moving"...and you don't manage the momentum or the direction... then you will not have control over it and it will move right out from under you.

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                    A long and winding road
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                    Posted: February 18, 2016, 11:48 pm - IP Logged

                    Bankruptcy can be thru one of her many llc's setup. Perhaps equity in her home will be used to cover some debts. I will go out on a limb and say she has other capital under different entities. So I am sure she will overcome this glitch. Didn't see the filings.. so in part its just a sense that she squirrelled someaway ....

                    She did seem genuine in her causes and caring for her kin. 

                    Money comes and goes.... she has what it takes to survive . Shes been on both sides.

                    ~~Is it true, Is it kind,Is it necessary. ~~~

                    pa:888,4445,6132,4444,8008

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                      Posted: February 19, 2016, 8:04 am - IP Logged

                      Look at it this way, if declaring bankruptcy was the end all then there wouldn't be a Donald Trump. He's claimed bankruptcy and came out with more money once it was all said and done. System manipulation...

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                        Posted: February 20, 2016, 7:50 am - IP Logged

                        Bankruptcy can be thru one of her many llc's setup. Perhaps equity in her home will be used to cover some debts. I will go out on a limb and say she has other capital under different entities. So I am sure she will overcome this glitch. Didn't see the filings.. so in part its just a sense that she squirrelled someaway ....

                        She did seem genuine in her causes and caring for her kin. 

                        Money comes and goes.... she has what it takes to survive . Shes been on both sides.

                        Capital from where? What business ventures did she create that succeeded? What investments did she make that paid off? She owed over $100,000 in back payments on the house 2 years ago.

                        Her businesses didn't file for bankruptcy, she did. Had it been just a business loss, she wouldn't be in the mess she's in now. Her only hope is if she put something away in a trust that she'll have access to down the road.

                          Teddi's avatar - Lottery-008.jpg

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                          Posted: February 20, 2016, 8:04 am - IP Logged

                          Look at it this way, if declaring bankruptcy was the end all then there wouldn't be a Donald Trump. He's claimed bankruptcy and came out with more money once it was all said and done. System manipulation...

                          Except that in Trump's case, it was his businesses that filed for bankruptcy...4 times. His personal money was always safe from that gross mismanagement of funds. Cynthia tied up too much of her personal money in her business ventures. Doing that is only great if you succeed, as all the profit is yours. But if you fail, there's no one else's money to cushion the fall.

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                            Posted: February 20, 2016, 10:52 am - IP Logged

                            Unless her dad spent all his lotto money, she shd always have a roof over her head.  If he still has his business, she can work for him.  She's going to be fine.

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                              Tulsa
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                              Posted: February 20, 2016, 2:20 pm - IP Logged

                              Unless her dad spent all his lotto money, she shd always have a roof over her head.  If he still has his business, she can work for him.  She's going to be fine.

                              If she learned all of her big spending ways from him then it is likely that they are all broke.